Abstract: This paper evaluates the impact of the New Rural Pension Scheme (NRPS) policy on childrens intergenerational supports toward parents. Using data from CHARLS2015 and CHARLS2018, we adopt the regression discontinuity design to investigate this influence. The results show that the NRPS policy significantly increases the transfers from children to parents by about 1700 yuan per year. However, the amount of time that children accompany their parents dramatically decreases by about 10%. The results indicate that the NRPS policy positively "crowds in" childrens intergenerational financial support, while negatively "crowds out" the temporal support, suggesting an obvious substitution effect between these two types of supports. We further explore the mechanism of the impact and find that the NRPS policy leads to more time the older adults contribute to taking care of their grandchildren. To “exchange”, the children increase transfers to parents and then reduce the time of accompanying their parents. Conclusions further discuss the policy implications about how to improve the overall quality of social welfare services in China.

Keywords: New Rural Pension Scheme, Intergenerational Support, Financial Support, Temporal Support, Grandparenting

摘要： 从子女代际向上支持的角度，对新农保政策的实施予以评估。基于2015年和2018年中国健康与养老追踪调查（CHARLS2015和CHARLS2018）数据，采用断点回归设计实证检验了新农保对子女给予父母代际支持的影响。研究发现，新农保的实施使子女对父母的转移支付每年显著增加约1700元，但给予父母的时间陪伴也显著下降了约10%。新农保对子女的代际经济支持有着正向的“挤入”作用，而对时间支持有着负面的“挤出”作用，经济与时间支持间存在明显替代性。进一步的影响机制分析发现，新农保的实施使老年人隔代照顾孙子女的时间增多，出于“交换动机”，子女增加了对父母的转移支付，同时因自身资源约束而随之减少了对父母的陪伴。研究结论对如何更好地提升中国社会公益类服务整体质量有一定的政策启示。

关键词: 新农保, 代际支持, 经济支持, 时间支持, 隔代抚育